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Saudi Cement Company announces the annual financial results for the period ending on 31-12-2017

Element Current year Previous year % Change
Net profit (loss) 453.4 901 -49.68
Earning or loss per share, Riyals 2.96 5.89 -
Gross profit (loss) 568.8 1,030.6 -44.81
Operational profit (loss) 473.5 932.1 -49.2
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of annual financial results The reasons for the decrease of current year net profit compared with last year are, decrease in sales, increase in cost of sales per ton of cement sold, as a result of reducing production due to high inventory levels, in addition to decrease in share in net results of associates companies and decrease in other income.
Reclassifications in annual financial results Comparative previous period figures were re-computed and reclassified to comply with current period presentation which was prepared based on IFRS.
Other notes Total sales for current year was SR 1,184.5 Million compared with SR 1,778.1 Million for last year, a decrease of 33.38% .
Total Comprehensive Income for the current year was 453.3 Million compared with 910 Million for last year, decrease of 50.19%.
Total Shareholder Equity ( no Minority Interest) at end of the current year is SR 2,877.9 Million compared with SR 3,189.6 Million at end of last year, decrease of 9.77%.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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No English translation, kindly refer to the Arabic version

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